New data from Stats Canada today shows BC continues to experience record population growth, gaining 31,542 new people from April to June 2024. Since 2022, BC’s communities have grown by over 380,000 people - the fastest population growth ever in BC.

SURREY – David Eby unveiled his Opening Doors to Homeownership plan to help thousands of middle-class families break into the housing market every year by financing 40% of the purchase price. This builds on the actions the BC NDP is already taking, which experts say will deliver 300,000 in the next decade.

“Everywhere I go, families tell me they dream of buying their first home – but decades of rampant speculation in the market has put it out of reach for too many,” said Eby. “Our plan will make that dream come true for thousands of first-time, middle-class homebuyers by substantially reducing the listing price and the mortgage you will pay.”

Eby’s plan would support middle-income families to purchase new homes while adding to housing supply. Land and pre-construction contributions from the provincial government will allow people to buy units at 60% of market value. The provincial contribution is repaid along with a share of the appreciation when the owner sells the unit, or after 25 years, financing the next generation of homeowners.

When John Rustad launched his campaign, he said it’s not the government’s job to deliver affordable housing. Rustad also promised to rip up B.C.’s country-leading Homes for People action plan–which would block the construction of new townhomes and fourplexes, and lead to 300,000 fewer homes being built in BC.

“John Rustad wants to return to the old status quo that got us into the housing crisis in the first place,” added Eby. “His plan will make speculators richer while raising the cost of housing for families across B.C. At a time when we’re finally starting to see rents come down and homes getting built, this is a risk no one can afford.”

The new program will provide financing for up to 25,000 units over the next five years through partnerships with the non-profit and private sectors. It’s part of Eby’s larger action plan experts say will deliver 300,000 middle-class homes over the next decade. The plan includes action to take on speculators, break down barriers to construction, build more homes and protect renters.

John Rustad has continued to mislead people. He claimed earlier this week that “72,500 people left [BC] last year alone” - ignoring all of the people who moved to BC from other provinces during that time.
In the timeframe Rustad references, more people moved to British Columbia from other provinces than those who left. All told, a net 8,371 people moved to BC from other provinces and a net 162,101 people moved to BC from other countries - for a total population growth of 170,472 in that period (fiscal 2022/23).
With John Rustad’s failure to acknowledge BC’s growing population, it’s no surprise Rustad would scrap David Eby’s plan to build 300,000 middle class homes and make a $4.1B health care cut, putting hospital projects in growing communities like Richmond and Surrey at risk.
People in BC are facing real challenges, and David Eby will fight for young people who want to build a good life in BC. While Rustad’s BC Conservatives cut, David and the BC NDP will build the homes and hospitals, schools our growing communities need. David won’t stop until the job is done and young people have homes they can afford in the community they love.